THIS IS JUST MY THOUGHTS AND ANALYSIS
From what I can see looking at the monthly chart gold is set up for a massive drop, its made an all-time high, there has been hardly any correction and it's just completely flown away from the trendline (lol)
I can see a massive amount of divergence on all timeframes and a huge amount of upwards momentum. The last time this...
Gold spiked to All-Time Highs, breaking above ($1920.111) during the early European session, albeit quickly retreated a bit thereafter.
There are still high concerns within in the US about the economy which could be grinding to a halt amid the ever-increasing coronavirus cases that continue to grow. News release of the advance US Q2 GDP report on Thursday,...
Let's start by saying that next week there is no big data concerning the USD , so from a fundamental point of view we should be ok.
We can take into consideration the technical point of view...
Last week forecast was spot on, PERFECT. For everybody that followed the analysis +600 PIPS made.
Gold has been ranging from @1680 and @1740 for a while with a couple of...
An update to a previous idea - CLEANER CHART
From what i can see gold is consolidating on all lower timeframes, it is testing support and from what I can see we are ready for a crash
Price was previously on a downtrend and made a big recovery and just kept rising.. If OIL is anything to go on it did something similar before dropping and as we all know patterns...
As seen previously once price broke the support line it took a big drop but recovered quickly. Its safe to say once its broken again it will take another huge drop.
My reasons for this are the fact Gold has kept rising despite all technicals showing that it should be ready for a sell. I appreciate Gold is a safe-haven but there's only so much manipulation...
My outlook on gold at the moment. We have a complete head and shoulders on the daily timeframe with a perfect neckline formation. I am bias long with gold set for 1800, however I can't ignore this technical analysis. All formations on each timeframe looks set for a big drop! There is a small head and shoulders forming on smaller timeframes (1HR and 30M).
Mainly looking for a short position on this pair as the analysis is showing but make sure to get a bearish conformation in the highlighted area (as shown) before you enter in this trade. Please leave any feedback regarding my analysis would be much appreciated. Thank you.
XAUUSD / GOLD -
Massive sell off!! Coming all the way down below last months high!
Possible FAKE OUT for all the buyers expecting 1800 now!
I feel we can push higher here find rejection in the area highlighted, if we do around 1750-1755.00 I would be looking to SELL !
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We have confirmation that GOLD is bullish for the coming weeks, however, any dips are going to be short-lived. So, we are going with the third scenario that we expected.
Target 2: 1950
Target 3: 2000
In my analysis, any deeper dips will be another buying opportunity for traders and earn great risk to reward.